Second circuit breaker in two days, then a rebound, as the regulator calls for calm
The Tunindex tripped the circuit breaker again at the open on 29 July, falling more than 3 percent and approaching 4 percent before reversing to close up 1.31 percent at 19,999.20 points, led by the same bank stocks that had driven the two-day sell-off. The same day the Conseil du marché financier convened the finance ministry, the central bank, the listed banks, the exchange and the brokers' association, defended the automatic suspension as standard prudential practice used on major exchanges, and urged investors to act on economic data rather than rumour. Its statement addressed the mechanism and the market's resilience rather than the decree requiring banks to devote 8 percent of profits to interest-free honour loans, which the economist Ridha Chkoundali had identified the previous day as the trigger.